Lending

The nationwide mortgage jitters marked by last week's collapse of American Home Mortgage should demonstrate to credit unions the need to stick to basics and "partner with those you know," a major CU service vendor said this week.

First Entertainment Credit Union and Utah First Federal Credit Union are the latest in the industry to partner with Member Business Lending, LLC, the country's number one Small Business Administration 7(a) credit union lender.

For car loan borrowers looking to refinance, credit unions most likely have the best deals in town, Black Enterprise magazine recently suggested.

Default Research Inc. (www.defaultresearch.com) has added the District of Columbia, Illinois, Maryland and North Carolina to the list of states covered in its foreclosure data. The company believes that families in economic distress in those areas will be helped by the Default Research foreclosure leads.

Greystone Residential Funding, Inc. an emerging leader in wholesale lending, announced it has formed a new business relationship with Freddie Mac to bring more lending options to credit unions and other local community lenders.

As an agency priority, NCUA keeps an out for discriminatory practices through various methods, NCUA Director of Examination & Insurance Dave Marquis told a congressional subcommittee last week.